This 5 unit property is an amazing value add opportunity. Pro-forma rents would yield a 6.8% cap rate. Own a two story 4-plex with a detached 1500 SF 3 bed 1 bathroom house on a 7,500 square foot lot in the heart of Koreatown, just off of Melrose near Hollywood!
The fourplex consists of four 1 bedroom 1 bathroom units each just over 900 square feet large, with their own formal dining room and living room. Property is fully occupied and will be delivered with existing tenants subject to rent controll. Each unit has its own laundry hookups. Located in one of the most desirable neighborhoods in Los Angeles, this property is just steps away from the vibrant culture and nightlife of Koreatown, while also being conveniently located near Hollywood and all its amenities. With so much to offer, this property is truly a gem that you don't want to miss out on.
Sold for $1,049,000
Listed by: REH REAL ESTATE • PAUL ARGUETA • Contact: 626-399-0223
Bought with: Allison James Estates & Homes
$1,049,000
556 N Serrano Ave, Los Angeles, CA 90004
7beds
5baths
5,270sqft
Quadruplex
Built in 1912
-- sqft lot
$-- Zestimate®
$199/sqft
$2,644 Estimated rent
Home value
Not available
Estimated sales range
Not available
$2,644/mo
Zestimate® history
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Heart of koreatownFormal dining room
Zillow last checked:
Listing updated:
Listed by:
PAUL ARGUETA DRE #01223040 626-600-2734,
REH REAL ESTATE
Bought with:
Raina Akilova, DRE #01992138
Allison James Estates & Homes
Source: CRMLS,MLS#: WS23040680
Originating MLS: California Regional MLS
Originating MLS: California Regional MLSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 5
Appliances
- Laundry: See Remarks
Features
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 5,270
- Total interior livable area: 5,270 sqft
Property
Features
- Levels: Two
- Stories: 2
- Pool features: None
Lot
- Size: 7,499 Square Feet
- Features: 0-1 Unit/Acre
Details
- Parcel number: 5521012001
- Zoning: LAR3
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Condition
- New construction: No
- Year built: 1912
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Features: Suburban, Sidewalks
Location
- Region: Los Angeles
Financial & listing details
- Price per square foot: $199/sqft
- Tax assessed value: $1,096,500
- Annual tax amount: $14,219
- Date on market: 3/10/2023
- Cumulative days on market: 280 days
- Listing terms: Cash,Cash to New Loan
Price history
| Date | Event | Price |
|---|---|---|
| 1/25/2024 | Pending sale | $1,149,000+9.5%$218/sqft |
Source:  CRMLS #WS23040680 Report a problem | ||
| 1/12/2024 | Sold | $1,049,000-8.7%$199/sqft |
Source: CRMLS #WS23040680 Report a problem | ||
| 12/4/2023 | Price change | $1,149,000-8%$218/sqft |
Source: CRMLS #WS23040680 Report a problem | ||
| 10/16/2023 | Price change | $1,249,000-7.4%$237/sqft |
Source: CRMLS #WS23040680 Report a problem | ||
| 8/9/2023 | Listed for sale | $1,349,000-20.6%$256/sqft |
Source: CRMLS #WS23040680 Report a problem | ||
| 6/15/2023 | Listing removed | -- |
Source: Owner Report a problem | ||
| 3/17/2023 | Listed for sale | $1,698,000$322/sqft |
Source: Owner Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $14,219 +0.7% | $1,096,500 +1.3% |
| 2024 | $14,116 +485% | $1,082,016 +918.7% |
| 2023 | $2,413 +2.8% | $106,211 +2% |
| 2022 | $2,348 +2.5% | $104,130 +2% |
| 2021 | $2,291 -0.3% | $102,090 +1% |
| 2020 | $2,298 | $101,044 +2% |
| 2019 | $2,298 +9.7% | $99,064 +2% |
| 2018 | $2,095 | $97,123 +2% |
| 2017 | $2,095 +3.5% | $95,219 +2% |
| 2016 | $2,024 +5.3% | $93,353 +1.5% |
| 2015 | $1,921 -1.3% | $91,951 +2% |
| 2014 | $1,947 | $90,151 +2.5% |
| 2012 | -- | $87,985 +2.8% |
| 2010 | -- | $85,618 +3.8% |
| 2007 | -- | $82,492 +2% |
| 2006 | -- | $80,875 |
| 2005 | -- | $80,875 +4% |
| 2004 | -- | $77,737 +1.9% |
| 2003 | -- | $76,313 +2% |
| 2002 | -- | $74,817 +4% |
| 2000 | -- | $71,913 |
Find assessor info on the county website
Neighborhood: Hollywood
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Nearby schools
GreatSchools rating
- 6/10Harvard Elementary SchoolGrades: K-5Distance: 0.3 mi
- 7/10Virgil Middle SchoolGrades: 6-8Distance: 1 mi
- 5/10Fairfax Senior High SchoolGrades: 9-12Distance: 3.1 mi
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- California
- Los Angeles County
- Los Angeles
- 90004
- Hollywood
- 556 N Serrano Ave
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